Updated: April 08, 2026 9:54:10 am IST
National Stock Exchange building in Bandra Kurla Complex, Mumbai.
India’s stock market opened sharply today in view of the global boom and huge fall in crude oil prices after the two-week Iran ceasefire. In that backdrop, the Reserve Bank of India is expected to maintain status quo on the repo rate today. The 30-share S&P BSE Sensex rose 3.71% or 2,775.73 points to hit an intraday high of 77,392.31, while the broader NSE Nifty 50 rose 3.52% or 815.2 points to 23,938.85. All 16 major sectors progressed. Broader small-caps and mid-caps rose 3.7% and 3.4%, respectively.
Other Asian markets climbed 4%, while crude oil prices slipped below $100 a barrel after Trump said the US would halt bombings and attacks on Iran for two weeks and talks were moving towards a long-term peace deal.
Impact of Iran war on Sensex, Nifty 50
The Nifty 50 and Sensex have fallen about 8.2% since the Iran war began on February 28, while the rupee has hit a record low due to higher crude oil prices and record foreign outflows.
The Iran war had sent oil prices above $100 a barrel, posing risks to the economy, corporate earnings and financial markets of India, the world’s third-largest oil importer.
RBI monetary policy
Against this backdrop, the Reserve Bank of India is widely expected to keep the repo rate unchanged in its monetary policy announcement at 10:00 am today, as policymakers assess the consequences of the Iran war.
“Market expectations are that consumer price inflation, post-war, could be around 4.5% for FY2027, up from 2.1% in FY26. If that is indeed the outcome, we do not rule out the possibility of a 25-50bps rate hike in H2FY27,” Macquarie Research analyst Suresh Ganapathy told Reuters. “RBI will have to take into account the Iran war and its impact on economic growth and inflation while releasing its forecasts.”
In its last policy meeting on February 6, the central bank had kept the repo rate unchanged at 5.25%.
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Other Asian markets climbed 4%, while crude oil prices slipped below $100 a barrel after Trump said the US would halt bombings and attacks on Iran for two weeks and talks were moving towards a long-term peace deal.
Impact of Iran war on Sensex, Nifty 50
The Nifty 50 and Sensex have fallen about 8.2% since the Iran war began on February 28, while the rupee has hit a record low due to higher crude oil prices and record foreign outflows.
The Iran war had sent oil prices above $100 a barrel, posing risks to the economy, corporate earnings and financial markets of India, the world’s third-largest oil importer.
RBI monetary policy
Against this backdrop, the Reserve Bank of India is widely expected to keep the repo rate unchanged in its monetary policy announcement at 10:00 am today, as policymakers assess the consequences of the Iran war.
“Market expectations are that consumer price inflation, post-war, could be around 4.5% for FY2027, up from 2.1% in FY26. If that is indeed the outcome, we do not rule out the possibility of a 25-50bps rate hike in H2FY27,” Macquarie Research analyst Suresh Ganapathy told Reuters. “RBI will have to take into account the Iran war and its impact on economic growth and inflation while releasing its forecasts.”
In its last policy meeting on February 6, the central bank had kept the repo rate unchanged at 5.25%.
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April 08, 2026 9:54:10 am First
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April 08, 2026 8:47:16 am First
Iran ceasefire gives big relief to Rupee ahead of RBI policy
The Indian rupee is set to open higher on Wednesday after the RBI’s monetary policy decision, boosted by falling oil prices and Asian currencies following the two-week Iran ceasefire.
The rupee is likely to open in the range of 92.40-92.50 against the US dollar, which closed at 93.0075 on Tuesday.